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Showing posts with label Politics. Show all posts
Showing posts with label Politics. Show all posts

Tuesday, March 12, 2024

Why West misreads new development paradigm

 

A view of Beijing's CBD area. [Photo/VCG] - China Daily/ANN

IN all ancient civilisations, especially in Asia, material and socio-cultural-spiritual development progressed more or less hand-in-hand. Hence, there was generally balanced human progress, even though all the civilisations had their share of shortcomings.

A major disruption occurred with the Industrial Revolution in the late 18th and 19th centuries. Spurred by new productive forces, the Industrial Revolution facilitated epoch-changing discoveries in science and innovations in technology, which exponentially raised many European nations’ capability to generate material prosperity.

As a result, European countries became fabulously wealthy.

However, the European countries used, rather misused, the new productive forces to consolidate their hold on their colonies in Asia, Africa and Latin America. They ruthlessly exploited and pillaged the colonies’ resources, seeking to destroy native cultures and establish European civilisational superiority.

Their fierce internal rivalry, though, led to two horrific world wars, which claimed millions of lives and ruined the economies of both the victims and perpetrators.

Hence, Western nations, despite their superior material wealth, became culturally, morally and spiritually impoverished. Even the birth of the United States was an outcome of the sordid history of colonisation. European powers literally mass-annihilated almost all the Indigenous peoples in the Americas in their lust for land and riches.

The United States, in the last century, contributed to the further explosive growth of productive forces with revolutionary advances in science and technology, especially in computers and the Internet, heralding the “information age”.

Nevertheless, these productive forces, being at the service of an uncontrolled capitalist system, have been misused leading to the extreme concentration of wealth and power in the hands of a minority.

Moreover, US administrations have abjured neither the Western instinct for global domination nor the habit of using their country’s powerful productive forces to launch illegitimate wars.

The importance of the rise of “new quality productive forces” in China needs to be understood against this historical background. Many in the West have dismissed it as just another “buzzword” meant to divert the international community’s attention away from China’s economic slowdown.

However, the concept can be properly understood only in the context of the Chinese leadership’s goal of developing “China into a great modern socialist country that is prosperous, strong, democratic, culturally advanced, harmonious and beautiful”.

Seen from this perspective, the new quality productive forces, wedded to people-centric and planet-protective development, could be the harbinger of a significantly different kind of, and balanced, human development.

The rise of new quality productive forces in China will have both domestic and global impacts. It is accompanied by, and is contributing to, positive changes in the West-dominated world order.

For the first time in modern history, China is surging ahead of Europe and the United States in scientific research and innovations in technology, especially in deploying new technologies and innovations.

China’s new quality productive forces are primarily in the areas of new energy, new materials, new hi-tech manufacturing systems and new applications of artificial intelligence.

In terms of the production and use of solar photovoltaic panels and other clean and green energy products, China is far ahead of the rest of the world. In fact, China installed more solar panels in 2023 than the United States has ever built, setting new standards in low-carbon footprints.

Besides, there are more industrial robots in Chinese factories than in any other country. In space and ocean research, too, China is advancing at a pace faster than the West. For instance, it is developing the world’s first quantum communications satellite network. China now ranks No. 1 in science and technology innovation clusters in the world.

While China is making rapid strides in developing its strategic industries, its agriculture and traditional industries are also becoming smarter and more innovative. As a result of the huge innovation-led increases in productivity, quality and efficiency, the Chinese economy is sure to navigate its current challenges satisfactorily.

However, China’s new development paradigm differs from that of the West in the past in one crucial respect: Chinese leaders have time and again emphasised that China will never seek hegemony irrespective of how prosperous it becomes. China is not trying to replace the West in global domination. Instead, it aims to help improve the world order by making it equitable, fairer, more representative and more democratic.

Five features set apart China’s new quality productive forces from the Western template.

First, China has not become the world’s second-largest economy by colonising any other country or by exploiting or stealing other countries’ resources. On the contrary, it has made much of the self-reliant technological advances despite the unlawful sanctions imposed by the United States and other Western countries.

Second, China has not misused its technological prowess by waging deadly wars against far-off countries. As a matter of fact, it advocates resolving disputes through dialogue.

Third, China aims to use the scientific and technological breakthroughs primarily for boosting all-round development so its vast population can lead a high-quality life and the country can achieve common prosperity. It has already lifted about 800 million people out of extreme poverty within a short span of four decades – a feat unparalleled in history.

The fact that the common people are living much better lives, as I have seen during my travels across the country, shows China is committed to using its resources to enrich its human capital, an obligation many Western governments have nearly abandoned.

Fourth, China is sharing its development experiences with other countries so they can learn from them and apply them, if necessary, to boost their development. As a matter of fact, the Belt and Road Initiative shows China is committed to helping build a community with a shared future for mankind.

And fifth, in its 5,000-year history, China has achieved great feats in arts, culture and science and technology, while seeking harmony in society – and in the world at large – although it has suffered many setbacks and foreign aggressions.

Now that China has become a moderately prosperous society in all respects, it views its development propelled by new quality productive forces as a contributor to the rejuvenation of the Chinese nation and a driving force behind the creation of a better world order.

Most Western observers fail to understand this civilisational wisdom guiding China’s modernisation. — China Daily/ANN

By Sudheendra Kulkarni,  an advocate of India-China-Pakistan cooperation for a New South Asia and was an aide to former Indian prime minister Atal Bihari Vajpayee. The views expressed are the writer’s own.

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Friday, March 8, 2024

China: Democracy that Delivers

 

Thousands of NPC deputies & CPPCC members gather in Beijing with their proposals about national policies. In a one-hour special episode, CGTN's Liu Xin engages with experts about China's democratic practices, and one mystery guest appears to share insights! #2024ChinaAgenda


Whole-Process People's Democracy from a Global Comparative Perspective

A recent global survey by the Academy of Contemporary China and World Studies reveals that the value and practice of whole-process people’s democracy have won widespread plaudits throughout the international community.

Developing whole-process people’s democracy is one of the intrinsic requirements of China’s modernization. It is a creation of the Communist Party of China in the process of advancing democratic theories and practices through drawing on the historical lessons of China and the world in governance. Whole-process people’s democracy fits Chinese conditions, as manifested in China’s nationwide vibrant vitality. It also contributes Chinese wisdom to the global promotion of democratic practice.

In 2023, the Academy of Contemporary China and World Studies conducted a survey in 23 countries across five continents on practice and modern development of democracy in China. Results showed that the value and practice of whole-process people’s democracy has won widespread plaudits throughout the international community.

While “acting” as deputies to the people’s congress, foreigners from the Global Young Leaders Dialogue program experience the solemn exercise of state power on behalf of the people by pressing voting keys on the desks of the Standing Committee of the Beijing Municipal People’s Congress. (Photo: China Today)

While “acting” as deputies to the people’s congress, foreigners from the Global Young Leaders Dialogue program experience the solemn exercise of state power on behalf of the people by pressing voting keys on the desks of the Standing Committee of the Beijing Municipal People’s Congress. (Photo: China Today)

Democracy Takes Root in China

Democracy is a universal aspiration. In light of different social and political conditions, as well as historical and cultural traditions, however, different countries have followed different democratic paths. Upon the end of the Cold War came a call from the international community to follow the Western approach to democracy, which it regarded as “universal,” eternal, and humanity’s sole pathway to a happy life.

Western countries hence exported their particular vision of democracy, which certain developing countries aped. But the result, rather than peace and development, was turmoil. Former Dutch foreign minister Wopke Hoekstra once said that many countries had lost interest in Western democracy, rather preferring their own versions, and nor did they buy the Western interpretation of human rights. The loudly overt disinclination on the part of these countries to bow to Western democratic norms strikes a chord in the international community, Hoekstra said.

Results of the Academy of Contemporary China and World Studies survey showed that 95.7 percent of respondents endorsed the view whereby countries should choose the path to democracy and modernization that is best suited to their national conditions; moreover that variances in countries’ national conditions and stages of development make impossible the Western one-size-fits-all democratic model.

Whole-process people’s democracy has advanced and been formed on the basis of China’s historical traditions, culture, and economic and social development. It embodies the essence of fine traditional Chinese culture. As the world’s longest “continuous civilization,” China boasts more than 5,000 years of history, which embodies the Chinese nation’s most profound spiritual pursuit. It is also imbued with the Chinese nation’s specific world view, values, and conceptions of history, civilization, and democracy. Chinese traditional culture regards people as the foundation of a state which, when solid, endows stability and tranquility upon that state. The people are thus more important than the ruler. Traditional Chinese democratic ideas and aspirations regarding the common good so form the cultural basis whereon the values of whole-process people’s democracy are nurtured.

The survey also showed that the traditional values conveyed by whole-process people’s democracy have achieved recognition throughout the international community. More than 86 percent of those polled endorsed the values of harmony, benevolent government, rule of law, and rule of virtue as most precious and relevant to improving global democratic politics.

Democracy with People at the Center

Democracy is not a decorative ornament, but an instrument for addressing issues that are of concern to the people. Distinguished British journalist, academic and political commentator Martin Jacques has targeted Western democracy with a torrent of questions. Given that many in the West regard their governance system as the world’s best – hence one with which the Chinese system could not possibly hope to compete – why is it that the West is in such a rapid decline? And how has China managed to attain such upending changes over the last 40 years? Don’t the two respective governance systems have impact on such distinctly contrasting trajectories?

The Global Satisfaction with Democracy Report, published by Bennet Institute for Public Policy at the University of Cambridge, showed that people in more than 100 countries and regions are dissatisfied with Western democracy, and that 2019, the year the COVID-19 pandemic broke out, reflected the highest level of democratic discontent on record. The reason may be that the malfunctioning Western democracy has resulted in governance failure; hence that Western democracies are suffering a crisis of faith.

Whole-process people’s democracy, meanwhile, requires that the running of the country by the people is specifically reflected in governance policies and measures. Ronnie Lins, CEO of Center China & Brazil: Research and Business, said in 2017 at the BRICS Governance Seminar in Quanzhou that China’s governance model exhibits extremely high efficiency by virtue of the country’s remarkable achievements. China has indeed won the people’s support through state governance that emanates from democratic practice, which is tailored to the people’s interests and needs.

Results of the Academy of Contemporary China and World Studies survey showed a global belief on the part of respondents that China’s employment of whole-process people’s democracy to improve the state’s capacity for governance and modernize the state governance system stands as testament to the strong practical efficacy of the Chinese democratic system. An average 94 percent of respondents from 23 countries – a 7 percent increase over the previous year – praised China’s capacity for state governance, saying that the country’s highly efficient, stable, and sustainable policy decision-making embodies the modernization level of the country’s democratic governance. A substantial proportion of respondents from developed countries – almost 10 percent higher than that of the previous year – was particularly lavish in their plaudits.

Whole-process people’s democracy lays great store on resolving the contradiction between people’s ever-growing needs for a better life and unbalanced, inadequate development. It is committed to realizing sound, stable, high-quality development, and ensuring that development results bring the people ever greater benefits. Ong Tee Keat, chairman of the Center for New Inclusive Asia in Malaysia, said in an interview with Beijing Review that China’s democracy is for the people and realized through a goal-driven approach. Substantial improvements in people’s lives, large-scale poverty reduction, and a far higher standard of public health services provide solid evidence that the priorities of the Chinese government are fueled by its pursuit of the people’s wellbeing.

The practical efficacy of whole-process people’s democracy has won widespread approbation throughout the international community. The survey showed that respondents from 23 countries are optimistic about China’s economy. An average 93 percent of them believed that China’s economy shows resilience and high potential, and that it will sustain growth in the long run. They spoke highly also of China’s manufacturing and technological innovation, saying that whole-process people’s democracy has spurred social innovation. More than 90 percent of respondents praised China’s Internet technology, high-speed rail technology, 5G telecommunication technology, infrastructure, and super hybrid rice technology. They believe that China heads the world in technological innovation, and provides its people with high-quality products.

While “acting” as deputies to the people’s congress, foreigners from the Global Young Leaders Dialogue program experience the solemn exercise of state power on behalf of the people by pressing voting keys on the desks of the Standing Committee of the Beijing Municipal People’s Congress. (Photo: China Today)

Foreign young representatives from the Global Young Leaders Dialogue program visit an exhibition about the development history of the Beijing Municipal Committee of the Chinese People’s Political Consultative Conference. (Photo: China Today)

Holistic Approach to Democracy

Functionally, democracy is supposed to build consensus in society, rather than social division or confrontation. But today, political polarization is rampant in Western democracies. Disputes and confrontations prevail within organizations and communities, and also among different political parties, social classes, and ethnic groups. The State of Democracy in the United States: 2022, published by China’s Ministry of Foreign Affairs in March 2023, observed that the United States has fallen victim to the vicious cycle of democratic pretensions, dysfunctional politics, and a divided society. Such problems as money politics, identity politics, social rifts, and the gulf between rich and poor have worsened. A 2024 Gallup poll shows that only 28 percent of American adults are satisfied with U.S. democracy – lower even than the 35-percent satisfaction rate shortly after the Capitol riots on January 6, 2021. A record low indeed.

China, meanwhile, after more than 40 years of reform and opening-up, has created two miracles of rapid economic growth and long-term social stability. Whole-process people’s democracy has been instrumental in maintaining long-term social stability. It ensures that the people gain equal benefits from development achievements and enables them to express their demands and concerns in a timely manner. Favorable public opinion thus provides a stable foundation for China’s sustainable development. The Academy of Contemporary China and World Studies survey showed that 92 percent of respondents in 23 countries – almost 5 percent more than in 2022 – regard Chinese society as stable, solidary, safe, and orderly. Similarly positive opinions among respondents in developed countries rose by nearly 10 percent.

Practice has shown that the Chinese people fully recognize and support the role that whole-process people’s democracy plays in realizing the running of the country by the people, and building consensus. This demonstrates China’s institutional strength, as well as the vitality and bright future of whole-process people’s democracy, the latter of which (the survey showed) has greatly improved public confidence in and satisfaction with the government. More than 98 percent of Chinese respondents said that they trust the government, and are satisfied with the country’s democracy and clean government. Over 94 percent of the Chinese people polled expressed satisfaction with social fairness and the environment, and confidence in the Chinese culture. The effect of whole-process people’s democracy is obvious in having heightened the people’s sense of advancement, happiness, and security, as reflected in the opinions of more than 96 percent of Chinese respondents.

Since 2021, the Academy of Contemporary China and World Studies has organized the Global Young Leaders Dialogue program, under which it launched a global youth salon themed on observing whole-process people’s democracy through Beijing’s practice. Young people from more than 10 countries, including the United States, Italy, Pakistan, Nepal, and Colombia, had an immersive experience of China’s whole-process people’s democracy in the offices of the Standing Committee of the Beijing Municipal People’s Congress, and in the Beijing Municipal Committee of the Chinese People’s Political Consultative Conference, as well as in residential communities. In the event, these young representatives from foreign countries “acted” as deputies to the people’s congress where they pressed the voting key, so experiencing the solemn exercise of state power on behalf of the people. They also put into operation the Beijing Municipal People’s Congress online budget supervision system, and were awed at the extent to which big data empowers the people’s congress review of the government budget.

These young foreign representatives believe that China’s democracy consists in a process of building consensus, which entails collecting and fully discussing public opinions, and then reaching consensus. For both mundane matters, such as everyday life issues and transport, and more important ones, like urban planning and implementation of reform measures, the people can express their opinions and make suggestions through democratic channels, thus for administration, legislation and law enforcement to be more procedure-based, democratic, sound, and effective.

There is no one-size-fits-all political system. Each country presents its distinctive values in building democratic systems and advancing democracy. Whole-process people’s democracy is not about exporting Chinese democracy to other countries. Rather, it tells those that are pursuing democracy that each country is entitled to search out the political system and path to democracy best suited to their national conditions. In the future, countries should learn from each other while forging ahead. Both drawing on the experience gained from fine political civilizations and giving full consideration to their national conditions and political practice, countries should take a problem-oriented approach to seeking out a model of democracy that fits their national contexts. Countries should join hands in opening up new chapters in the politics of human civilization.  

By YU YUNQUAN                     

YU YUNQUAN is president of the Academy of Contemporary China and World Studies.


Two Sessions 2024

Check out our special coverage to explore more news on Two Sessions 2024

By Global Times | 2024/3/7 15:24:45

#GTGraphic: China's annual legislative and political consultative sessions, also known as the two sessions, will open next week. Take a look at the graphics to get some basic information.

Thursday, March 7, 2024

Property sales hit fresh record RM196.8 bil in 2023, Growth momentum set to continue

(From left): Director General of Valuation and Property Services Department Sr Abdul Razak Yusak, Finance Minister II Datuk Seri Amir Hamzah Azizan and Director of Napic Sr Norhisham Shafie during the launch of the property report. Photo by Mohd Izwan Mohd Nazam/The Edge

KAJANG (March 6): Malaysia’s property transaction value hit RM196.83 billion in 2023 — the highest ever recorded by the National Property Information Centre (Napic).

The figure was a 9.91% year-on-year (y-o-y) rise from the previous all-time high of RM179.07 billion logged in 2022, Napic said in a statement in conjunction with the release of its Property Market Report 2023 on Wednesday (March 6).

As for the number of transactions, it was largely flat at 399,008 in 2023, a 2.54% increase from 389,107 in 2022, with the bulk 62.8% or 250,586 units coming from the residential subsector.

Likewise, the residential sub-sector contributed the majority or 51.3% of 2023’s transaction value at RM100.93 billion, followed by commercial (19.5%), industrial (12.2%), agricultural (9.5%) and development land and others (7.5%).

“This positive growth trend is driven by a higher increase in transaction value in all subsectors, namely residential (up 7.1%), commercial (up 17.5%), industrial (up 13.1%), agriculture (up 4.6%) and development land and others (up 13.8%) compared wit 2022," Napic said.

The Malaysian House Price Index (MHPI) — a measure of Malaysian home prices — stood at 216.5 points (RM467,144 per unit) in 2023 with a moderate annual growth of 3.2%.

“All major states recorded positive annual growth in [MHPI] led by Johor (up 6.2%), Penang (up 3.8%), Selangor (up 2.9%) and Kuala Lumpur (up 1.8%) respectively,” Napic said.

Cautiously optimistic property market in 2024

Napic said that with the national economy expected to expand by 4% to 5% in 2024, the property market’s performance is expected to remain cautiously optimistic.

Second Finance Minister Datuk Seri Amir Hamzah Azizan, who officiated the report’s launch, said that the property sector in 2024 is expected to continue its recovery momentum supported by government initiatives set out in Budget 2024, although the domestic economy is facing global challenges.

Outlining relevant initiatives, Amir Hamzah mentioned the RM2.47 billion allocation for affordable housing development, RM10 billion allocation to the Housing Credit Guarantee Scheme (SKJP), stamp duty exemption for first-time homebuyers who purchase a home valued up to RM500,000, and more relaxed conditions for Malaysia My Second Home (MM2H) programme.

“Accommodative policies, well-executed measures outlined in Budget 2024 and proper implementation of strategies and initiatives under the 12th Malaysia Plan (12MP) are expected to catalyse further growth in the property sector,” Amir Hamzah said.

Read also:
Shopping complex occupancy rises slightly y-o-y in 2023, office space remains flat
Overhang residential units down 7% in 2023, affordable housing the largest category


Growth momentum set to continue


 

Chester Cheng - Real Estate #malaysia2024 #malaysiarealestate #malaysiaproperty As the year 2023 comes to an ending, I wish everyone Happy New Year! This video sharing is my own personal opinions about the coming year 2024 for Malaysian real estate market.

The positive growth trend is driven by a higher increase in transaction values in all subsectors.

KAJANG: The Malaysian property market transaction values rose by almost 10% to a record of RM196.83bil in 2023 from the previous year, with its growth momentum expected to continue this year.

The property overhang situation had seen a slight improvement as the numbers continued to decline by 7% and 4% in volume and transaction values, respectively, from 2022.

Moving forward, the Valuation and Property Services Department (VPSD) said the property market performance is expected to remain cautiously optimistic this year. This is predicated on the healthy gross domestic product growth forecast for this year that’s supported by resilient domestic growth prospects.

Accommodative policies, well-executed measures outlined in Budget 2024 and proper implementation of strategies and initiatives under the 12th Malaysia Plan are expected to catalyse further growth in the property sector, the department said.

“The performance of the property market is encouraging with transaction values in 2023 having reached a record, which is an increase of 9.9% from 2022.

“The momentum of the property market will continue to be supported through Budget 2024 measures related to affordable housing and first home financing towards generating a stronger economic performance for the year 2024,” said Finance Minister II senator Datuk Seri Amir Hamzah Azizan.

The positive growth trend is driven by a higher increase in transaction values in all subsectors, namely the residential at 7.1%, commercial 17.5%, industrial 13.1%, agriculture 4.6% and development land and others at 13.8%, compared to 2022.

Newly launched residential units also saw an increase of 4.4% to 56,526 units with a better sales performance of 40.4% from 36% in 2022, the department said.

In his speech at the property report launch yesterday, Amir Hamzah also highlighted the reduction in the property overhang.

“The status for the overhang or unsold units have reduced to 26,000 units with a value of RM17.7bil compared with almost 28,000 units valued at RM18.41bil in 2022,” he said.

Amir Hamzah also said there will be an improvement in the requirements for applicants of the Malaysia My Second Home programme to increase its “flexibility.”

“This will encourage more interest into property transactions in the country that will also attract more tourists and foreign investors into the country,” he said.

This move is expected to help increase investments into the financial markets, of which also includes the national property market, he added.

The government’s present efforts to boost the property sector include the exemption of stamp duty on the transfer of documents for the purchase of a person’s first home up to RM500,000, which will be effective until December 2025.

On another matter, the minister also urged all data suppliers to ensure the data provided to Napic were always accurate and correct.

“Please continue the good working relationship with Napic and the VPSD as the data supplied has a big impact in the future formulation of government policies for the property market.

“I also ask all the others involved, especially the developers, planners or agencies that approve development plans to continue to refer to the data that is being published by Napic, which is accessible through a dedicated portal,” Amir Hamzah said.

Meanwhile, the report said the Malaysian House Price Index stood at 216.5 points or RM467,144 per unit in 2023, with a moderate annual growth of 3.2%.

All major states recorded positive annual growth, led by Johor at 6.2%, Penang at 3.8%, Selangor 2.9% and Kuala Lumpur at 1.8%, the report said.

Meanwhile the performance of shopping complexes witnessed moderate growth in 2023, as the occupancy rate increased slightly to 77.4%.

The available space reduced to four million sq metres, while the availability rate decreased to 22.6%, it said.

Commenting on the property overhang situation, Rahim & Co International Sdn Bhd real estate agency chief executive officer Siva Shanker said he expects the overhang will go down further this year as the market stabilises and improves.

“The biggest cause of overhang units is mainly due to oversupply.”

“A mismatch in location, pricing and developers not meeting the buyer’s demands” are causes of overhang and unsold residential units,” he added.

According to the property market report, the states with the highest rates of residential overhang and unsold units last year were Johor, Kuala Lumpur and Selangor respectively.

Meanwhile, Malaysian Institute of Estate Agents president Tan Kian Aun said the positive reduction in the overhang is a good sign, which shows the vibrancy of the market to be able to absorb the outstanding units in the market.

Tan said the Home Ownership Campaign (HOC) last year showed good progress in the overhang statistics.

“Hopefully the government can consider extending the HOC to further reduce the overhang situation,” Tan told StarBiz.

When asked on the property market’s outlook, Siva said the days of phenomenal growth in the property market are over and he expects a slight growth in the property market for 2024.

Siva noted that “organic growth is a good thing.

“We want a market that is stable and sustainable in the long run as it will not fluctuate with unpredictable highs and lows.”

Related articles:

Real estate sector well on its way to recovery | The Star

https://www.thestar.com.my/business/business-news/2024/03/08/real-estate-sector-well-on-its-way-to-recovery#:~:text=According%20to%20data%20released%20by,expected%20to%20continue%20this%2

Foreign boost for real estate | The Star

0year.
https://www.thestar.com.my/news/nation/2024/03/09/foreign-boost-for-real-estate#:~:text=The%20MM2H%2C%20initiated%20in%202002,with%20more%20rigorous%20application%20conditions.

Residential sector to enjoy growth in 2024 - The Star

https://www.thestar.com.my/business/business-news/2024/03/11/residential-sector-to-enjoy-growth-in-2024#:~:text=Anticipating%20favourable%20market%20conditions%20in,prices%20with%20wages%20and%20income.

Demand outstrips supply for rental units in Johor


Optimistic outlook for property stocks - The Star

Property overhang clearing up

https://www.thestar.com.my/business/insight/2024/03/16/property-overhang-clearing-up